Rite Aid Closes 300 Stores Amid Second Bankruptcy Across Multiple States

Rite Aid is accelerating its store closures amid its second Chapter 11 bankruptcy filing in less than two years, announcing plans to shut down an additional 150 stores, bringing the total number of closures requested in bankruptcy court to 361. The closures are happening in waves, affecting multiple states including Pennsylvania, New Jersey, Washington, and others, with locations in cities such as Montoursville, Williamsport, Brodheadsville, Milton, and Auburn on the list. Many of the company's pharmacy services and prescription records are being transferred smoothly to rivals like CVS, Walgreens, and Weis, with some former Rite Aid stores being converted to CVS locations. Financial difficulties driven by economic downturns, litigation risks including opioid-related lawsuits, and increased operational costs have contributed to Rite Aid's declining viability. The company is expected to close all remaining stores, with court hearings scheduled to finalize closures and objections. Rite Aid also plans to lay off most of its workforce at corporate offices, signaling a significant retreat from the retail pharmacy market.